A transaction takes place within the network
Posted: Mon Jan 20, 2025 6:51 am
Whoever solves the cryptographic calculation, in the case of Bitcoin, will not only have the task of writing the new information into the new block but will also receive a reward of bitcoins for having succeeded in the feat.
Transaction
when one peer sends information to another peer.
In the case of a transaction involving a financial exchange we have a series of information including the sender, the recipient and the value exchanged. It is similar to a transaction made on modern credit card platforms. The only difference is that the transaction here is made without a centralized authority .
A simple example would be a person sending bitcoins to another person.
First step: Tizio commands his application to create an albania business email list address, the software returns an alphanumeric sequence of 26 to 35 characters. Which can be: 21xGxYxYWvyAFjJJPPyGGtrFFyXJ6ZjgqV .
Simply, Tizio copies the address and shows it to the sender through any means: a message, an email, a QR code and can forward it to him anywhere, with maximum security.
At that point, Caio enters Tizio's address and the amount of bitcoin to send into his software, specifying the amount of the commission to be paid to the miner (this is the jargon name given to validator nodes in the Bitcoin blockchain) to validate the transaction.
The transaction happens immediately , but before considering the payment done, the transaction is waited for to be inserted into the blockchain. This usually happens in a maximum of 10 minutes.
Transaction
when one peer sends information to another peer.
In the case of a transaction involving a financial exchange we have a series of information including the sender, the recipient and the value exchanged. It is similar to a transaction made on modern credit card platforms. The only difference is that the transaction here is made without a centralized authority .
A simple example would be a person sending bitcoins to another person.
First step: Tizio commands his application to create an albania business email list address, the software returns an alphanumeric sequence of 26 to 35 characters. Which can be: 21xGxYxYWvyAFjJJPPyGGtrFFyXJ6ZjgqV .
Simply, Tizio copies the address and shows it to the sender through any means: a message, an email, a QR code and can forward it to him anywhere, with maximum security.
At that point, Caio enters Tizio's address and the amount of bitcoin to send into his software, specifying the amount of the commission to be paid to the miner (this is the jargon name given to validator nodes in the Bitcoin blockchain) to validate the transaction.
The transaction happens immediately , but before considering the payment done, the transaction is waited for to be inserted into the blockchain. This usually happens in a maximum of 10 minutes.